State-owned Bharat Heavy Electricals, the engineering major, has signed Joint Venture agreement with Karnataka Power Corporation Ltd for setting up Joint Venture Company.

The JV company will build, own and operate two 660/800 megawatt coal-based power plant at Yeramarus in Raichur and another 660/8OOMW power plant at Edlapur, also in Raichur.

National Thermal Power Corporation Ltd (NTPC) has signed a Joint Venture agreement with five large state-run companies. The list includes Steel Authority of India Ltd (SAIL), Rashtriya Ispat Nigam Ltd (RINL), Coal India Ltd (CIL) and National Mineral Development Corporation Ltd (NMDC).

KLG Systel has made announcement that company's power system solution (PSS) division has secured an order worth Rs 306 million from Uttar Haryana Bijli Vitran Nigam (UHBVN).

According to sources, this is the repeat order, which has been awarded to the company for executing engineering procurement construction (EPC) project.

The major activity of India-based KLG Systel is to offer software, information technology solutions and IT enabled services.

The UP urban areas will see the introduction of power transmission and distribution system through input-based franchisee by Mayawati government, which it thinks is vital for development. The decision was taken in the cabinet meeting held in Lucknow.

"The step could be the first move towards privatization of power distribution in the state which until now was in government hands," said the UP Power Corporation Limited
(UPPCL) sources.

The biggest wind-turbine maker of the country, Suzlon Energy would sell 10% stake in its Belgium arm Hansen to a London-based investment firm. Hansen supplies industrial and wind gear boxes besides providing designs of business and manufacturing practices. It is planning to expand its network in India and China.

Suzlon said in a filing before the Bombay Stock Exchange that its Netherlands-based wholly-owned subsidiary AE-Rotor Holding has sold 6.70 crore shares to Ecofin. The amount of deal is not disclosed yet by any party.  

The world's fifth largest wind turbine maker, Suzlon Energy has increased its share in its German subsidiary REpower Systems. The company currently holds 73.71 percent stake in REpower and paid around Rs 447 crore to Portugal's Martifer SGPS for acquisition. Martifer holds 22.4 per cent stake in the German company. Suzlon Energy had to acquire these stakes to complete the deal before May 2009 as per agreement with Martifer.